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Financial Institutions and Services x Social Sciences x Macroeconomics and Monetary Economics x Microeconomics x clear all

Bank Credit Cycles

G. B. Gorton and Ping He.

in The Review of Economic Studies

October 2008; p ublished online October 2008 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Prices, Business Fluctuations, and Cycles; Banking. 16461 words.

A bank determines whether potential borrowers are creditworthy, that is, whether they meet the bank's credit or lending standards. In making this determination, each bank is in competition...

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Banking: A New Monetarist Approach

Chao Gu, Fabrizio Mattesini, Cyril Monnet and Randall Wright.

in The Review of Economic Studies

April 2013; p ublished online January 2013 .

Journal Article. Subjects: Microeconomics; Banking; Money and Interest Rates; Macroeconomics and Monetary Economics. 14097 words.

We develop a model where: (i) banks take deposits and make investments; (ii) their liabilities facilitate third-party transactions. Other models have (i) or (ii), not both, although we...

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Does Competition Reduce the Risk of Bank Failure?

David Martinez-Miera and Rafael Repullo.

in The Review of Financial Studies

October 2010; p ublished online August 2010 .

Journal Article. Subjects: Banking; Market Structure and Pricing; Money and Interest Rates. 11196 words.

A large theoretical literature shows that competition reduces banks' franchise values and induces them to take more risk. Recent research contradicts this result: When banks charge lower...

AN ECONOMIC ANALYSIS OF THE 2011 SETTLEMENT BETWEEN THE DEPARTMENT OF JUSTICE AND CREDIT CARD NETWORKS

Scott Schuh, Oz Shy, Joanna Stavins and Robert Triest.

in Journal of Competition Law & Economics

March 2012; p ublished online March 2012 .

Journal Article. Subjects: Household Behaviour and Family Economics; Financial Institutions and Services; Money and Interest Rates. 15570 words.

In 2010, the Department of Justice (DOJ) filed a lawsuit against the credit card networks American Express, MasterCard, and Visa for alleged antitrust violations. We evaluate the extent to...

The Effects of Marital Status and Children on Savings and Portfolio Choice

David A. Love.

in The Review of Financial Studies

January 2010; p ublished online April 2009 .

Journal Article. Subjects: Economics; Insurance; Intertemporal Choice and Growth; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Economics of Health; Demographic Economics. 23993 words.

This paper investigates the impact of demographic shocks on optimal decisions about saving, life insurance, and, most centrally, asset allocation. The analysis indicates that marital-status...

The euroization of bank deposits in Eastern Europe

Martin Brown and Helmut Stix.

in Economic Policy

January 2015; p ublished online December 2014 .

Journal Article. Subjects: Household Behaviour and Family Economics; Banking; Money and Interest Rates. 16853 words.

In Central, Eastern and Southeastern Europe a substantial share of bank deposits are denominated in foreign currency. Deposit euroization poses key challenges for monetary policy and...

Financialisation and capital accumulation in the non-financial corporate sector:

Özgür Orhangazi.

in Cambridge Journal of Economics

November 2008; p ublished online April 2008 .

Journal Article. Subjects: Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Financial Institutions and Services; Production and Organizations; Corporate Governance. 10622 words.

I discuss the impact of financialisation on real capital accumulation in the US. Using data from a sample of non-financial corporations from 1973 to 2003, I find a negative relationship...

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Income distribution and the size of the financial sector: a Sraffian analysis

Carlo Panico, Antonio Pinto and Martín Puchet Anyul.

in Cambridge Journal of Economics

November 2012; p ublished online March 2012 .

Journal Article. Subjects: Financial Regulation; Economic Methodology; History of Economic Thought (1925 onwards); Microeconomics; Analysis of Collective Decision-making; Corporate Regulation; General Aggregative Models; Money and Interest Rates; History of Economic Thought (to 1925). 13059 words.

This paper explores the existence of links among the recent trends in income distribution, in the turnover of the financial industry and in financial regulation, moving from Sraffa’s...

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Policy Uncertainty and Corporate Investment

Huseyin Gulen and Mihai Ion.

in The Review of Financial Studies

March 2016; p ublished online September 2015 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Financial Regulation; Corporate Governance; Corporate Regulation. 17098 words.

Using a news-based index of policy uncertainty, we document a strong negative relationship between firm-level capital investment and the aggregate level of uncertainty associated with...

Self-fulfilling Credit Market Freezes

Lucian A. Bebchuk and Itay Goldstein.

in The Review of Financial Studies

November 2011; p ublished online September 2011 .

Journal Article. Subjects: Game Theory and Bargaining Theory; Production and Organizations; Money and Interest Rates; Economics; Financial Institutions and Services. 17910 words.

This article develops a model of a self-fulfilling credit market freeze and uses it to study alternative governmental responses to such a crisis. We study an economy in which operating...

A Theory of Liquidity and Regulation of Financial Intermediation

Emmanuel Farhi, Mikhail Golosov and Aleh Tsyvinski.

in The Review of Economic Studies

July 2009; p ublished online July 2009 .

Journal Article. Subjects: Financial Regulation; Intertemporal Choice and Growth; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 9817 words.

This paper studies a Diamond-Dybvig model of providing insurance against unobservable liquidity shocks in the presence of unobservable trades. We show that competitive equilibria are...

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When There Is No Place to Hide: Correlation Risk and the Cross-Section of Hedge Fund Returns

Andrea Buraschi, Robert Kosowski and Fabio Trojani.

in The Review of Financial Studies

February 2014; p ublished online December 2013 .

Journal Article. Subjects: Intertemporal Choice and Growth; Prices, Business Fluctuations, and Cycles; Money and Interest Rates; Economics; Financial Institutions and Services. 17270 words.

Using a novel data set on correlation swaps, we study the relation between correlation risk, hedge fund characteristics, and their risk-return profile. We find that the ability of hedge...